Finance Application Queue Tier Settings

Accounting > Financing > Financing Settings > Finance Application Queue Tier Settings
System Administration > System Settings > Accounting System Settings > Financing System Settings > Finance Application Queue Tier Settings
Financing Control Settings > Actions button on Transmission tab

Use this routine to organize the finance providers to be included in the finance queue into tiers. These tier settings are used to determine the order in which the providers are contacted when submitting applications using the finance queue. The first tier usually consists of providers that grant credit to customers with the best credit scores. Wells Fargo, GE, Capital One and TD Bank are typical first tier providers. The second tier providers offer services to customers with less than prime credit that typically are declined by the first tier providers. Genesis Financial Solutions is an example of a second tier provider. The third tier providers generally offer lease to own options. Rent-A-Center (aka AcceptanceNOW) is an example of a third tier provider.

When you access this screen via Financing Control Settings, the District and Location fields are not active. If you access this screen in this way, you are creating/updating the global table. This is used as the default table if a district or location table has not been defined for the location where a finance application is being entered.

When you access this screen via the menu, initially the District and Location fields are active. Once you enter either a location or district, the other fields become active and the district and location fields become inactive.

If you accessed this screen from Financing Control Settings, this field and the location field are not active. If you accessed this screen from the menu, this field is active. To define a table by district, click the Arrow button and select a district from the drop-down list. You can create additional tables by district to assign the providers/tiers/percentages for each district where the preferences are different. Once you select a district, the location field becomes inactive. To define a table by location, leave this field blank.

If you accessed this screen from Financing Control Settings, this field and the district field are not active. If you accessed this screen from the menu, this field is active. To define a table by location, click the Arrow button and select a location from the drop-down list of warehouse/store locations that have merchant numbers defined. Once you select a location, the district field becomes inactive. To define a table by district, leave this field blank.

Use this field to add providers, one at a time, to the table grid. Click the Arrow button to select a provider from the drop-down list. All eligible, active online providers are listed. A provider is considered eligible if the QUEUING – Include Provider in Application Queue check box in Finance Provider Settings is checked. Once you select a provider, the Tier and Percentage fields are active. A provider can only exist in one tier, and only once within that tier. If the table is being created for a location, only providers accessible by that location are included in the drop-down list.

Use this field to define the order of processing for the selected provider. Enter the number of the tier (1, 2, or 3 for example). Providers can be added in any order, but when you press the Add button, the grid is sorted so that the providers are listed by tier, by percentage. When you click the Save button after all entries are complete, the list of tiers is validated. There can be no gaps in the tier numbers. For example, if you entered tiers 1, 2 and 4 only, an error states that 3 is missing and the table must be corrected. Make corrections within the grid in the Tier column.

Define the portion of applications that can be submitted to each provider within that tier. This entry allows up to 3 digits. The total percentage for each tier must equal 100%, and is verified once the Save button is pressed. If the total percentage is not 100%, a message is displayed and the table must be corrected. Make your corrections within the grid in the Percentage column.

The grid lists the providers you added to the queue table. Once added to the table, you can edit the Tier and Percentage within the grid, but you cannot change the provider selected. To remove a provider, use the Remove button in the grid.

Provider - The names of the providers added to the grid are displayed.
Tier - The processing order assigned to the provider displays and can be edited here.
Percentage - The percentage of applications to be submitted to the provider displays and can be edited here.
Remove - Click the Remove button to delete a line from the grid.

When all entries/edits are complete, click the Save button to update the table. If you are creating tables by location or district, you can create multiple tables. One global table should also be created to be used as the default if a table does not exist for location from which an application is being submitted.